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Chevron ramps up production in Venezuela

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Chevron Corporation has increased production at a key Venezuela oil project to levels not seen in almost a year, despite US sanctions aimed at crippling the regime of embattled President Nicolas Maduro. According to a Bloomberg report, Chevron has kept...
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TechnipFMC warns of impairment impact

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(Market Watch) TechnipFMC PLC (FTI.FR) said late Monday in its preliminary results that revenue for the full year is expected to meet guidance and that it expects impairment charges to impact the fourth quarter. The London-based oil-and-gas company said revenues...
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Coronavirus to completely wipe out projected Q1 2020 global oil demand growth – Rystad Energy

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The coronavirus epidemic in China is expected to have a significant impact on global oil demand growth in coming months, according to a new report from Rystad Energy. The virus has triggered restrictions in the country’s public transport and air...
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Still early days to determine full volume of gas at Stabroek Block – Dr. Bynoe

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As discussions continue in the South American country of Guyana on the prospect of bringing gas to shore, the country’s Department of Energy said while this project could come on stream as early as 2023, the full volume of...
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Payara review progressing well – approval expected after elections

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Review of the Field Development Plan for the proposed 220,000 barrels per day Payara Development Project offshore the South American country of Guyana is progressing well with approval likely to come after the country’s March 2 elections. “The Department of...
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Guyana now has a Local Content Policy

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The much-anticipated Local Content Policy (LCP) that sets the framework within which companies in Guyana’s oil and gas sector are expected to operate has been completed and will be made public shortly. Director of Guyana’s Department of Energy (DE), Dr....
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Guyana has produced over 2.7 million barrels of oil to date; gov’t’s 1st lift due next week

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Over 2.7 million barrels of oil have been produced to date from the Liza Phase 1 Development and the Guyana government is gearing up to lift its first 1 million barrels by early next week. Director of the Department of...
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O&G pushing Guyanese companies to adopt international standards

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Nabi Construction Inc. the Guyanese partner in the Nabi/KCL Oilfield Construction Services joint venture is one of a number of local companies benefiting from knowledge transfer and capacity building initiatives that are helping these firms tap into opportunities in...
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Most of world’s top 30 high impact wells in South America, Africa

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Although 2019 was a disappointing year in terms of high impact well (HIW) drilling in the oil and gas sector, comparatively stable market conditions are favoring new exploration activity in 2020 for areas that combine high risk and high...
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Saipem bags new offshore contracts worth over $500 million

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Italian engineering and drilling services firm Saipem announced that it has been awarded several EPCI contracts worth over 500 million USD in various countries around the world. A press release from the company on February 6, 2020 said that the...
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Q1 withdrawal from Guyana’s oil fund up 60% from last year’s

The Guyana government ramped up withdrawals from the country’s oil fund in the first quarter of 2025, taking out...

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